an llc management agreement is needed when an llc opts to appoint a manager to run the day-to-day business operations. owners of an llc are called members, and they can be a natural person or a corporation. this is a percentage of ownership based on their individual contribution.â  members can organize the llc how they see fit, with almost total freedom to create an individualized relationship between members, as well as setting forth the terms that govern the operation and maintenance of the llc.â  llcs can be owned by a single person (single-member llcs) or by two or more owners (multiple-member llcs). or, you can appoint a manager or management committee, which is known as a manager-managed llc.â  after creating the llc, the next step is usually making the llc operating agreement.